VIETNAM RANKS 3RD IN SOUTHEAST ASIA FOR E-COMMERCE VALUE

Vietnam’s e-commerce market surpassed USD 25 billion in 2024, growing 20% year-on-year and securing the 3rd position in Southeast Asia, following Indonesia and Thailand.

On September 5, the Ministry of Industry and Trade (MoIT) announced at the forum “E-commerce Landscape and Cross-border E-commerce – Pathways for Vietnamese Export Businesses”, part of the Vietnam International Sourcing 2025 exhibition, that:

• Vietnam’s e-commerce market value in 2024 exceeded USD 25 billion, marking a 20% growth.

• This accounts for around 10% of the nation’s total retail and consumer services revenue, positioning Vietnam among the top 3 e-commerce markets in Southeast Asia, after Indonesia (USD 65 billion) and Thailand (USD 26 billion).

• By 2030, the market size is projected to reach USD 63 billion.

SECTORS DRIVING E-COMMERCE GROWTH

According to YouNet ECI:

• FMCG (Fast-Moving Consumer Goods) recorded the strongest growth at 62%.

• Home appliances & technology grew 41%.

• Fashion and accessories rose 39%.

VIETNAMESE BRANDS GOING GLOBAL

Deputy Minister of Industry and Trade Phan Thi Thang emphasized that more Vietnamese brands and local products are expanding to international markets via global e-commerce platforms. Vietnamese businesses are building their online presence not only in the U.S., China, EU, Japan, and South Korea but also tapping into emerging opportunities in ASEAN, the Middle East, Russia, and Australia.

CROSS-BORDER E-COMMERCE – A NATIONAL STRATEGY

• In 2024, the global cross-border e-commerce market reached USD 791.5 billion and is forecast to grow at over 30% in the coming years.

• For Vietnam, cross-border e-commerce is no longer just a business trend but a national export strategy, integrated into the Government’s GoGlobal Plan.

• Under the National E-commerce Development Master Plan 2026–2030, cross-border e-commerce is considered a strategic pillar, aiming to:

  • Build a sustainable digital export ecosystem.

  • Enhance Vietnamese enterprises’ global competitiveness.

  • Elevate the position of Made-in-Vietnam products on the global trade map.

GOVERNMENT SUPPORT MEASURES

The Ministry of Industry and Trade and the E-commerce and Digital Economy Agency are implementing comprehensive initiatives:

• Improving legal and policy frameworks.

• Supporting businesses with training and capacity building.

• Connecting with leading global e-commerce platforms.

• Working closely with Vietnam Trade Offices abroad to promote Vietnamese products and facilitate exports through digital trade channels.